Goldman means never saying sorry

Goldman Sachs sent out a press release to announce it came to its senses and exercised “restraint” with its 2009 bonus pool. The so-called commercial bank “limited” its $16.2 billion bonus pool to 35.8% of revenue, down from 48% in 2008. Excuse me while I reach for my airsick bag.
This fake mea culpa should in [...]

What if everyone used their gifts to benefit others?

Today the N.Y. Times editorializes about taxing the high earners at Goldman Sachs. Is that really the problem with such intelligent people devoting themselves purely to the accumulation of lucre.
If all of the mathematical investment geniuses at Goldman Sachs and the other investment banks and hedge funds had devoted their talents to serving the [...]

Cash for gamblers: Government bankrolls hedge fund bets

The Wall Street Journal reports today that large banks have resumed lending money to hedge funds and other institutional investors. A closer look at this at this development reveals painful conflicts and new depths of fraud perpetrated against taxpayers.
The Wall Street lending machine, also known as the prime brokerage business, exists because commercial banks that [...]